Highlights• Revenue of $3.4m in Q3 FY2023, up 19% from Q2 FY2023 and up35% from Q3 FY2022; due to the commencement of new contractssigned in recent quarters and the achievement of go livemilestones• Annual Recurring Revenue (ARR)2 of $7.0m in Q3 FY2023, 2% higherthan Q2 FY2023 and 35% higher than in Q3 FY2022• Total Contract Value (TCV)2 of $17.1m in Q3 FY2023, 12% lowerthan Q2 FY2023 and 3% higher than Q3 FY2022 due to contractdepletion across all existing contracts, including due to theachievement and billing of implementation milestones,outweighing the value of new contracts• Cash Receipts from Customers; up 21% at the end of Q3 year todate, up 24% at $3.6m in Q3 compared to Q2 FY2023 and up 100%compared to Q3 FY2022, a function of growth in the revenue base,the timing of billings including the achievement of implementationmilestones, and payment terms• Net Operating Cash Outflow; improved 36% at the end of Q3 yearto date at $1.8m compared to the end of Q3 F2022 year to date at$2.8m; a function of cash receipts on the back of revenue growth• Material contracts update – implementation go lives of K2flySolutions with BHP Iron Ore (Ground Disturbance) and Rio Tinto(Reconciliation)o BHP Iron Ore Ground Disturbance solution implementation in its WAIron Ore (WAIO) operations in the Pilbara of Western Australia hasgone live.o Rio Tinto Reconciliation module implementation has gone live, utilisedacross 24 reporting sites• Cash balance on 31 March 2023 was $4.1m (no debt
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